North Star Asset Management Inc. Boosts Holdings in Vertex, Inc. $VERX

North Star Asset Management Inc. lifted its stake in Vertex, Inc. (NASDAQ:VERX) by 47.8% during the third quarter, Holdings Channel reports. The institutional investor owned 195,015 shares of the company’s stock after acquiring an additional 63,063 shares during the quarter. North Star Asset Management Inc.’s holdings in Vertex were worth $4,834,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its holdings in Vertex by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after acquiring an additional 395 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Vertex by 0.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 137,913 shares of the company’s stock valued at $3,456,000 after purchasing an additional 564 shares during the period. Verdence Capital Advisors LLC boosted its holdings in Vertex by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 11,538 shares of the company’s stock worth $296,000 after buying an additional 600 shares in the last quarter. Teacher Retirement System of Texas grew its position in Vertex by 6.5% during the second quarter. Teacher Retirement System of Texas now owns 10,310 shares of the company’s stock valued at $364,000 after buying an additional 630 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in Vertex by 17.0% during the second quarter. Ameritas Investment Partners Inc. now owns 6,643 shares of the company’s stock valued at $235,000 after buying an additional 965 shares during the period. 70.32% of the stock is owned by institutional investors and hedge funds.

Vertex Stock Up 10.2%

Shares of VERX opened at $13.26 on Wednesday. The stock has a 50 day moving average price of $17.73 and a 200 day moving average price of $21.26. Vertex, Inc. has a one year low of $11.86 and a one year high of $43.56. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 331.58, a PEG ratio of 1.43 and a beta of 0.59.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Vertex had a return on equity of 25.25% and a net margin of 0.96%.The company had revenue of $194.71 million for the quarter, compared to analyst estimates of $194.33 million. During the same quarter last year, the firm posted $0.15 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Vertex announced that its Board of Directors has initiated a stock buyback plan on Monday, November 3rd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Vertex from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Citigroup lowered their price target on Vertex from $22.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Robert W. Baird set a $25.00 price objective on Vertex in a research report on Tuesday, November 4th. Jefferies Financial Group downgraded Vertex from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Wednesday, February 11th. Finally, Citizens Jmp decreased their target price on Vertex from $37.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.07.

Insider Transactions at Vertex

In other Vertex news, insider Jeffrey Westphal acquired 247,740 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was bought at an average price of $13.08 per share, with a total value of $3,240,439.20. Following the purchase, the insider owned 247,740 shares in the company, valued at approximately $3,240,439.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric C. Andersen acquired 40,000 shares of the business’s stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $12.91 per share, with a total value of $516,400.00. Following the acquisition, the director owned 150,341 shares in the company, valued at $1,940,902.31. The trade was a 36.25% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 437,740 shares of company stock worth $5,636,339 over the last 90 days. 43.25% of the stock is currently owned by company insiders.

Vertex Company Profile

Vertex Energy, Inc (NASDAQ: VERX) is a specialty refiner and marketer of transportation fuels and petrochemical feedstocks in the United States. The company collects and processes a variety of waste petroleum products, including used motor oil and industrial lubricants, which it converts into ultra-low-sulfur diesel, asphalt, and other refined products. By leveraging proprietary re-refining technologies and strategic feedstock sourcing, Vertex Energy aims to deliver cost-effective, lower-carbon fuel solutions to wholesale and retail customers across the country.

Headquartered in Houston, Texas, Vertex operates a network of refining and blending facilities in key regions, including the Central, Northeast and Mid-Atlantic markets.